Otto Group expects annual e-commerce revenues to hit almost €7bn

Otto Group expects annual e-commerce revenues to hit almost €7bn

Otto Group, the international retailer and parent company of Hermes, has forecasted that its e-commerce revenues for the current 2016/17 financial year will be almost €7bn (according to preliminary estimates).

The forecast (which is based on preliminary estimates) represents a growth of almost 10% or €615m and underscores how e-commerce remains the retail-business driver at the Otto Group.

“We are very satisfied with this revenue development,” said Dr Rainer Hillebrand, Vice Chairman of the Executive Board Otto Group, Corporate Strategy, E-Commerce and Business Intelligence.

“We are seeing high double-digit growth in numerous Group companies and have already implemented the digital transformation here very successfully. In other companies there is still work to be done, however. We know that we need to deliver maximum commitment to remain able to satisfy our customers’ demands and constantly renew their loyalty towards us.”

Particularly over the last financial year the Otto Group has launched numerous technological and customer-orientated initiatives, as well as fundamental processes such as #Kulturwandel 4.0 (‘Culture Change 4.0’). Especially with regard to e-commerce and retail-related services, over the next few years these moves will help the Group achieve highly dynamic momentum.

The Otto Group said that it has launched a number of initiatives to drive forward its e-commerce capabilities.

“Amongst the initiatives,” said the Otto Group, “are the founding of Otto Group Digital Solutions, setting up a Mobile Lab, the consistent pilot-testing of new technology trends – for instance in the areas of Personalisation and Conversational Commerce – and last but not least the appointment of the experienced digital expert Sebastian Klauke as the Group’s Chief Digital Officer (CDO).”

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